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The cryptocurrency market is showing an upward trend.
According to Token Post Market, as of 11:15 am on the 20th, Bitcoin is trading at $37,267 (about 48.31 million won), up 2.05% from the previous day.
Ethereum, second in market capitalization, also recorded $2,004.12 (about KRW 2.59 million), up 2.62% from the previous day.
Top altcoins are also rising. BNB 1.50% ▲ XRP 2.88% ▲ Solana (SOL) 5.43% ▲ Cardano (ADA) 1.76% ▲ Dogecoin (DOGE) 2.02% ▲ .
Publish’s News Token is trading at 0.9940 won, down 0.45% from the previous day.
The cryptocurrency market capitalization recorded approximately $1.4166 trillion (approximately KRW 1,836 trillion).
According to Herald Economy, the U.S. stock market, which had slowed down due to concerns about an economic recession caused by inflation, is recovering quickly as the U.S. price index shows a stable trend. Expectations for a soft landing in which prices can be controlled without a serious economic downturn appear to be solidifying.
However, concerns are being raised that investors may be getting too ahead of themselves.
According to Deutsche Bank, the WSJ pointed out that in the last 11 cycles of interest rate hikes by the Federal Reserve (Fed), recessions began about two years later.
In addition, there are voices warning of a slowdown in consumption, such as Doug McMillon, CEO of Walmart, the largest U.S. retailer, warning that deflation will occur within a few months.
The digital asset fear-greed index provided by UBCI recorded 62.44 as of the 20th, showing the 'greed' stage.
